The 24-hour trading volume surged 31.07% to $75.3 billion, with the memecoin category’s valuation increasing by 16.47% during this period. The category has a total market cap of $121.23 billion, with 3,242 tokens currently listed.
Are you planning to invest in this category but are you confused by so many options? Don’t be afraid and scroll down, because in this article we have already covered the short-term prospects of Popcat (SOL) and Floki (FLOKI) memecoins.
Popcat (SOL) POPCAT
Popcat SOL price has risen more than 30% in the past day, hitting a new all-time high. In addition, the memecoin has surged 2,316% so far this year, making it one of the best performing Solana-based memecoins this year.
The Moving Average Convergence Divergence (MACD) shows a significant rise in the green histogram, with its mean showing a sharp upward trend. POPCAT price is likely to continue rising in the coming period as its 50-day EMA supports the price trend.
If the price of Popcat (SOL) sustains above the support trendline at $1.9050, it could set a new high at $2.23 this month. On the other hand, a bearish reversal could pull the price towards its lower support at $1.270
FLOKI
Floki’s price has surged by about 66% in the past week, achieving a multi-level breakout. Moreover, this memecoin has seen 6 consecutive days of green candles. With a market cap of $2.23 billion, it has secured the 46th spot.
The EMA 50/200 daily lines have made a golden cross on the 1D timeframe and its RSI indicator has shown a sharp rise above the overbought range on the Floki price chart. This shows that the buying pressure on memecoin in the cryptocurrency space is outweighing the selling pressure.
If the bullish momentum continues, Floki price might retest its high of $0.000320. However, if the bears regain power, this could pull Floki token price towards its lower support trendline of $0.000155.
